First Horizon Advisors Inc. Has $532,000 Holdings in KLA Co. (NASDAQ:KLAC)

First Horizon Advisors Inc. decreased its position in shares of KLA Co. (NASDAQ:KLAC) by 7.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 687 shares of the semiconductor company’s stock after selling 58 shares during the period. First Horizon Advisors Inc.’s holdings in KLA were worth $532,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Market Strategies LLC grew its stake in shares of KLA by 1.6% in the second quarter. Capital Market Strategies LLC now owns 808 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 13 shares during the last quarter. CVA Family Office LLC increased its stake in shares of KLA by 3.7% in the third quarter. CVA Family Office LLC now owns 366 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 13 shares during the period. HBW Advisory Services LLC increased its position in KLA by 2.6% during the 2nd quarter. HBW Advisory Services LLC now owns 548 shares of the semiconductor company’s stock valued at $452,000 after purchasing an additional 14 shares during the period. TIAA Trust National Association boosted its stake in shares of KLA by 0.4% in the 2nd quarter. TIAA Trust National Association now owns 3,249 shares of the semiconductor company’s stock valued at $2,679,000 after purchasing an additional 14 shares during the last quarter. Finally, AA Financial Advisors LLC increased its position in shares of KLA by 2.7% during the second quarter. AA Financial Advisors LLC now owns 567 shares of the semiconductor company’s stock worth $467,000 after buying an additional 15 shares during the period. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KLAC. Needham & Company LLC restated a “hold” rating on shares of KLA in a research report on Thursday, October 31st. Oppenheimer raised shares of KLA from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $750.00 to $850.00 in a research report on Thursday, October 31st. Citigroup dropped their target price on shares of KLA from $960.00 to $900.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. StockNews.com upgraded shares of KLA from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group upped their price objective on shares of KLA from $735.00 to $838.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $802.90.

KLA Trading Up 2.3 %

Shares of KLAC stock opened at $631.22 on Friday. The company has a 50 day moving average of $712.59 and a 200-day moving average of $760.85. KLA Co. has a 12-month low of $527.11 and a 12-month high of $896.32. The firm has a market cap of $84.43 billion, a P/E ratio of 28.82, a PEG ratio of 1.30 and a beta of 1.29. The company has a quick ratio of 1.48, a current ratio of 2.13 and a debt-to-equity ratio of 1.65.

KLA (NASDAQ:KLAC) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $7.33 earnings per share for the quarter, topping analysts’ consensus estimates of $7.03 by $0.30. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. KLA had a net margin of 28.92% and a return on equity of 105.16%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the business earned $5.74 earnings per share. Sell-side analysts anticipate that KLA Co. will post 30.91 earnings per share for the current year.

KLA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be issued a $1.70 dividend. This is a positive change from KLA’s previous quarterly dividend of $1.45. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, November 18th. KLA’s dividend payout ratio (DPR) is presently 31.05%.

KLA Company Profile

KLA Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of process control, process-enabling, and yield management solutions for the semiconductor and related electronics industries worldwide. It operates through three segments: Semiconductor Process Control; Specialty Semiconductor Process; and PCB and Component Inspection.